Howard Whittemore Memorial Library

Analysis

Howard Whittemore Memorial Library is a registered charity in United States, based in Naugatuck, CT. It received its IRS tax-exemption ruling in February 1941, 85 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Howard Whittemore Memorial Library reported income of $929k and spending of $937k, spending 101% of its income. Across the 5 years on record, from June 2020 to June 2024, income grew from $763k to $929k (+22%), an average of +5.1% a year. The sharpest change came in the year to June 2021, when income rose by 27%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Howard Whittemore Memorial Library sits at the 75th percentile: it is larger than about 75% of them. Against every charity in United States with reported income it ranks in the 78th percentile, and in the 77th percentile within CT. Charities of a similar size with the same main cause include Middlesex College Foundation Inc ($929k), Ross Valley Nursery School ($929k) and The Nest School ($929k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 76% and program service revenue 1.2% of the total. Compensation of current officers, directors and key employees was $96k (10% of expenses). Other salaries and wages came to $359k. At year end it held assets of $9.8m against liabilities of $71k, net assets of $9.7m. It reported 22 employees.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.